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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (8670)	10/12/1998 3:04:00 PM
From: Jorj X Mckie	Respond to of 34811

Merci.

To: Judy who wrote (8670)	10/12/1998 4:37:00 PM
From: Bwe	Read Replies (1) \| Respond to of 34811

Good afternoon, Judy. How the heck are ya? I know you enjoyed reading about the weekly Buying and Selling Climaxes and I wanted to update you on a few of note. The Dow 20 Bond Average is a key fixed income indicator for Chartcraft and that indicie had a Buying Climax last week. Also the UTY, the Philadelphia Utility Average has a Buying Climax. No surprise then that many of the week's 23 BC's were in the utility area, telephones and electric utilities specifically: Buying Climaxes: Ameritech, Cinergy, Con Edison, Southern Co's, Houston Industries, Texas Utilities, Homestake Mining, Wachovia Lots of brokerage firms make up the Selling Climax list. Also, some retailers which I find interesting: Selling Climaxes: American Express, Bear Stearns, Bankers Trust, Chubb, DLJ, Federated Dept. Stores, Dillards, Ingersoll Rand, Lehman Brothers, Morgan Stanley Dean Witter, JP Morgan, Pimco Advisors, State Street, KLA Tencor, Motorola, JC Penny, Fastenal, Adaptec, Schnitzer Steel, Unitrode, Stage Stores, Ultramar Diamond Shamrok, Autozone, Electroglas. When an entire group has Selling Climaxes in a given week it takes on added significance. I recall writing about the Tobacco stocks all having SC's I believe in early summer and that sure proved to be the bottom in MO. Many Oil Service stocks had more than one SC in July and those stocks were slow to react and are still in a bottoming phase. However, SC's are building blocks of which bottoms are made. The new low list last week expanded to the 2nd highest ever according to Chartcraft. Chartcraft also recommended a short of Walgreen as they felt it was overpriced and ripe for a fall. Your pal, Bruce